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Actionable news in EMN: EASTMAN CHEMICAL COMPANY,

Analyst Says Eastman Is a Buy Despite 'Cautious' 2016 Guidance

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Eastman Chemical's (EMN - Get Report) shares rebounded Monday after management's cautious guidance for 2016 last week caused the stock to take an immediate 2% hit.

Eastman closed at $76.38 on Friday, down slightly more than 2%. The stock on Monday gained most of that back to trade at $77.82.

If Eastman delivers -- it announced better-than-expected first-quarter earnings on Thursday -- investors are likely to pay more attention to the specialty chemicals manufacturer's posted results than its expectations for per-share earnings, Deutsche Bank analyst David Begleiter wrote Monday.

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"We believe that as Eastman meets, if not beats, its [2016] guidance [of about $7], exits its commodity chemical (ethylene) business and transitions from paying down debt to buying back stock [in the second quarter] investors will pay less attention to what Eastman says and more attention to what it does," the analyst said in a research note Monday.

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